Pine Valley Investments Ltd Liability Co Makes New $228,000 Investment in New Jersey Resources Co. (NYSE:NJR)

Pine Valley Investments Ltd Liability Co bought a new position in New Jersey Resources Co. (NYSE:NJRFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,116 shares of the utilities provider’s stock, valued at approximately $228,000.

A number of other large investors have also recently bought and sold shares of the business. Fortitude Family Office LLC bought a new stake in shares of New Jersey Resources during the fourth quarter valued at approximately $26,000. Parkside Financial Bank & Trust bought a new stake in shares of New Jersey Resources during the fourth quarter valued at approximately $29,000. Headlands Technologies LLC bought a new stake in shares of New Jersey Resources during the fourth quarter valued at approximately $31,000. Heritage Wealth Advisors bought a new stake in shares of New Jersey Resources during the fourth quarter valued at approximately $31,000. Finally, GAMMA Investing LLC bought a new stake in shares of New Jersey Resources during the fourth quarter valued at approximately $40,000. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other New Jersey Resources news, CEO Stephen D. Westhoven sold 20,000 shares of New Jersey Resources stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $42.82, for a total value of $856,400.00. Following the transaction, the chief executive officer now owns 198,705 shares in the company, valued at $8,508,548.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.75% of the stock is currently owned by company insiders.

New Jersey Resources Price Performance

Shares of NYSE NJR traded down $0.38 during mid-day trading on Tuesday, reaching $42.22. 117,889 shares of the company traded hands, compared to its average volume of 494,456. New Jersey Resources Co. has a fifty-two week low of $38.92 and a fifty-two week high of $50.72. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.70 and a quick ratio of 0.56. The firm has a market cap of $4.17 billion, a PE ratio of 16.84 and a beta of 0.62. The stock has a fifty day simple moving average of $43.13 and a 200-day simple moving average of $42.86.

New Jersey Resources (NYSE:NJRGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.08. The firm had revenue of $657.91 million for the quarter, compared to analyst estimates of $669.64 million. New Jersey Resources had a net margin of 14.46% and a return on equity of 12.16%. Equities research analysts anticipate that New Jersey Resources Co. will post 2.94 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Wednesday, June 12th will be given a $0.42 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $1.68 annualized dividend and a yield of 3.98%. New Jersey Resources’s dividend payout ratio (DPR) is 66.40%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NJR. Mizuho cut their price target on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, February 5th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th.

Get Our Latest Stock Analysis on NJR

New Jersey Resources Company Profile

(Free Report)

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.

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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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